At the end of last week, I mentioned that estimated tax payments for the second quarter of 2013 are due soon. As I noted in that post, these payments are intended to help you avoid income tax underpayment penalties if you have income that isn’t subject to withholding (self-employment, investing, [...]
Working (for Yourself or Others)
Robert Frost once said “By working faithfully eight hours a day you may eventually get to be boss and work twelve hours a day.”
Whether you work for yourself or for someone else, chances are you’re looking to get ahead. This page is home to articles about doing just that — while maintaining your sanity.
Topics of interest include self-employment, finding a job, earning a promotion, asking for a raise, navigating workplace politics, maintaining work-life balance, and more. If it’s work-related, this is where you’ll find it.
Ever wonder who works for minimum wage? Well, wonder no more… The Bureau of Labor Statistics has released data summarizing the characteristics of minimum wage workers. This is particularly timely given the current debate over raising the minimum wage. In 2012, there were 75.3 million workers aged 16 or above [...]
A reader recently wrote in with a question about what to do with your health savings account (HSA) after leaving your job. The answer here is… It depends. Consider your options and don’t make any rash decisions. For starters, the money in the HSA is yours, and it’s portable. You’re [...]
While reading the latest unemployment report from the Bureau of Labor Statistics (BLS), I was struck by the apparent relationship between education and unemployment rates. At tail end of 2012, the overall unemployment rate stood at 7.8%, but it actually varied quite widely across educational levels. What follows are the [...]
Yesterday I looked at who ultimately pays for unemployment benefits. Today I’ll be looking at the tax treatment of unemployment benefits. Are unemployment benefits subject to income tax? The short answer is that, yes, such payments are indeed taxable. For a slightly longer and more detailed answer, we have to [...]
With the unemployment rate in the news, I thought I’d take a closer look at who actually pays for unemployment compensation. In general terms, unemployment benefits are paid through the Unemployment Insurance program, which is jointly administered between the federal and state governments. Unemployment insurance is funded through employer-paid federal [...]
Have you ever thought about moonlighting as a paid tax preparer? Despite the seasonal nature of this work, there’s good money to be made by preparing tax returns. While CPAs and attorneys can prepare federal individual tax returns and represent their clients before the IRS without passing any special tests, [...]